MainStreet Investment Advisors LLC Purchases 1,745 Shares of Air Products & Chemicals, Inc. (NYSE:APD)

MainStreet Investment Advisors LLC lifted its position in shares of Air Products & Chemicals, Inc. (NYSE:APD) by 111.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,311 shares of the basic materials company’s stock after buying an additional 1,745 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in Air Products & Chemicals were worth $661,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Argent Trust Co grew its position in shares of Air Products & Chemicals by 2.4% during the 1st quarter. Argent Trust Co now owns 2,308 shares of the basic materials company’s stock worth $461,000 after buying an additional 55 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of Air Products & Chemicals by 11.5% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 67,161 shares of the basic materials company’s stock worth $13,406,000 after buying an additional 6,918 shares in the last quarter. National Asset Management Inc. grew its position in shares of Air Products & Chemicals by 25.2% during the 1st quarter. National Asset Management Inc. now owns 6,109 shares of the basic materials company’s stock worth $1,220,000 after buying an additional 1,228 shares in the last quarter. Front Row Advisors LLC bought a new position in shares of Air Products & Chemicals during the 1st quarter worth $35,000. Finally, Northwestern Mutual Investment Management Company LLC grew its position in shares of Air Products & Chemicals by 34.2% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 11,489 shares of the basic materials company’s stock worth $2,293,000 after buying an additional 2,926 shares in the last quarter. 83.60% of the stock is currently owned by institutional investors and hedge funds.

APD has been the topic of a number of recent research reports. Deutsche Bank raised their price objective on Air Products & Chemicals from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, January 27th. SunTrust Banks raised their price objective on Air Products & Chemicals from $255.00 to $265.00 and gave the company a “positive” rating in a research report on Monday, January 27th. UBS Group dropped their price objective on Air Products & Chemicals from $238.00 to $205.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 8th. Sanford C. Bernstein raised Air Products & Chemicals from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $246.00 to $262.00 in a research report on Wednesday, April 15th. Finally, Zacks Investment Research downgraded Air Products & Chemicals from a “hold” rating to a “sell” rating and set a $230.00 price objective on the stock. in a research report on Monday, April 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $247.33.

NYSE APD traded down $1.19 during trading on Friday, hitting $234.35. The company’s stock had a trading volume of 775,139 shares, compared to its average volume of 1,035,600. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.59 and a quick ratio of 2.37. The company has a market cap of $52.02 billion, a PE ratio of 26.89, a P/E/G ratio of 2.94 and a beta of 0.86. The business’s 50 day simple moving average is $219.14 and its 200-day simple moving average is $227.68. Air Products & Chemicals, Inc. has a fifty-two week low of $167.43 and a fifty-two week high of $257.01.

Air Products & Chemicals (NYSE:APD) last announced its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.02). Air Products & Chemicals had a return on equity of 16.36% and a net margin of 21.66%. The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the previous year, the business earned $2.00 earnings per share. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. Analysts expect that Air Products & Chemicals, Inc. will post 8.48 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Wednesday, July 1st will be paid a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Tuesday, June 30th. Air Products & Chemicals’s payout ratio is 65.29%.

Air Products & Chemicals Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.

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Institutional Ownership by Quarter for Air Products & Chemicals (NYSE:APD)

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